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Outward Remittance Through Credit Card

FEMA - Started By: - Gurmeet Singh Rohra - Dated:- 27-10-2016 Last Replied Date:- 4-3-2017 - Hi Team,Please guide regarding statutory compliance needs to be followed in order to regularise payments already made to foreign companies / foreign individu .....

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bit Cards/Store value cards etc. by Authorised Dealers in India: 3.4.1. International Credit Cards (ICC) i. The restrictions contained in Rule 5 of the Foreign Exchange Management (Current Account Transactions) Rules, 2000 will not be applicable for .....

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e.g. for import of books, purchase of downloadable software or import of any other item permissible under Foreign Trade Policy (FTP). iii. ICCs cannot be used on internet or otherwise for purchase of prohibited items, like lottery tickets, banned or .....

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ough internet. v. Resident individuals maintaining foreign currency accounts with an Authorised Dealer in India or a bank abroad, as permissible under extant Foreign Exchange Regulations, are free to obtain ICCs issued by overseas banks and other rep .....

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